"Among all psychological expressions, some of the most revealing are an individual's memories." First memories were a major interest of the psychological theorist Alfred Adler. He went on to say "there are no 'chance memories': out of the incalculable number of impressions which meet an individual, she or he chooses to remember only those which feel, however darkly, to have a bearing on the person's situation."
Adler also believed that first memories will show our fundamental view of life. However, he warns that all early recollections are not exact records of facts, that many perhaps have been changed or distorted over time. They are only hints.
He goes on to add meanings to the natures of such early memories such as mother being present, was it a 'we' or 'I' situation, dangers and accidents, birth of a sibling, school, sickness or death, or misdeeds. I won't go into meanings because I can not personally vouch for Adler's accuracy or can I find any scientific studies to back them up. But it is interesting to think about.
-Ansbacher, H. & Ansbacher, R. (Eds.). (1956). The individual psychology of Alfred Adler. New York: Harper & Row.